SMAS - news) announced today that it will begin an aggressive share retirement program within the next month. The company has been meeting with shareholders to acquire large blocks of shares, so that it can cancel them to dramatically decrease the amount of shares outstanding.Somatic Systems, Inc. (
The company will announce the acquisitions and retirements of shares as they are pending or have been completed starting over the next few weeks. The company resolved to transact these share cancellations to restructure the company's capital without conducting a reverse split of the stock. While the company's existing share structure and significantly undervalued market capitalization still provide tremendous room for growth in Somatic Systems' share prices, a large number of outstanding shares still tends to discourage buyers and demand for the stock.
"While we believe there is tremendous room for price per share increases within our existing capital structure, we have a strong desire to grow our stock price exponentially, and we know that shareholders are concerned about large numbers of outstanding shares," stated Somatic Systems CEO Steven Aronstein. "We think that removing as much as half our shares will have a strong impact on the demand and price for our stock, and is a great alternative to a reverse split."
About Somatic Systems, Inc.
Somatic Systems is the worldwide center for Clinical Somatics™, the ground-breaking drug-free, non-surgical approach to pain relief. This proprietary system uses natural, non-invasive movement techniques -- conducted through one-hour hands-on sessions, therapeutic exercises classes, and home exercises lasting as little as 5 minutes a day -- to relieve pain and limitation resulting from accident, trauma and repetitive stress, including back pain, knee pain, joint problems, carpal tunnel syndrome, TMJ, scoliosis, bursitis, sciatica, headaches, tendonitis and more. Clinical Somatics™ also provides performance gains and injury prevention for casual and professional athletes.
Somatic Systems is pursuing a 3-part growth strategy, consisting of a nationwide rollout of pain management Somatics Clinics; increased production and distribution of therapeutic videos, books, and other retail self-help Somatics Products; and expanded Somatics Training Programs to supply Clinic practitioners serving medical and orthopedic professionals and institutional and corporate programs. The company operates a suite of web sites offering Somatics information, products, resources, and opportunities, at www.somatics.org.
Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.
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SOURCE: Somatic Systems, Inc.